Bank of India FD Rates for Senior Citizens: Fixed deposits (FDs) have always been a safe haven for investors who want stable returns. For senior citizens, the appeal is even stronger—guaranteed income, zero market risk, and additional interest benefits. Bank of India (BOI), being one of India’s trusted public sector banks, offers attractive FD schemes tailored for retirees.
If you’ve been wondering, “What are the latest FD rates of BOI for senior citizens?” or “Which bank is best for FD for senior citizens in India?”, this article breaks it all down for you with real numbers, comparisons, and insights.
Current Bank of India FD Rates for Senior Citizens
BOI provides higher FD rates for individuals aged 60 years and above. As of 2025, senior citizens usually get an additional 0.50% over the standard FD rates.
Here’s a look at the Bank of India fixed deposit rates for senior citizens across popular tenures:
| FD Tenure | Regular Interest Rate (p.a.) | Senior Citizen Rate (p.a.) |
| 7 – 45 days | 3.50% | 4.00% |
| 46 – 179 days | 4.50% | 5.00% |
| 180 – 269 days | 5.25% | 5.75% |
| 270 – less than 1 year | 5.50% | 6.00% |
| 1 year – 400 days | 6.75% | 7.25% |
| 400 days (Special FD) | 7.25% | 7.75% |
| 401 days – 777 days | 6.80% | 7.30% |
| 777 days (Star Special FD) | 7.30% | 7.80% |
| 2 years – less than 5 years | 6.50% | 7.00% |
| 5 years and above | 6.75% | 7.25% |
(Rates are indicative and may vary. Always check the official BOI website or branch for updates.)
Spotlight Schemes for Senior Citizens
Bank of India FD Rates for 400 Days
BOI’s 400-day FD scheme is a popular choice among retirees. Senior citizens get 7.75% per annum, which beats many competing banks. For example, if you invest ₹10 lakh, your maturity amount after 400 days could be around ₹10.78 lakh.
Bank of India FD Rates for 777 Days
The 777-day FD (Star Special) is another attractive product. Senior citizens can earn 7.80% per annum, which is among the highest in the current market. For those who don’t want to lock their money for a full 5 years, this medium-term option works well.
Bank of India Fixed Deposit Rates for 5 Years
If your goal is long-term savings and income stability, the 5-year FD for senior citizens offers 7.25%. Apart from steady returns, this FD also qualifies for tax-saving benefits under Section 80C (up to ₹1.5 lakh investment).
Why Senior Citizens Should Consider Bank of India FDs
- Higher Returns: BOI provides an extra 0.50% interest exclusively for senior citizens.
- Safety of Capital: Being a public sector bank, deposits are considered safe, backed by DICGC insurance up to ₹5 lakh.
- Multiple Tenure Options: From short-term (7 days) to long-term (10 years).
- Loan Against FD: Senior citizens can easily avail loans or overdrafts against their FDs, ensuring liquidity in emergencies.
- Quarterly and Monthly Payouts: Pensioners can opt for monthly interest payouts, which act like a regular income stream.
How Bank of India Compares with Other Banks
You may have heard claims like “Which bank gives 9.5 interest on FD for senior citizens?” The truth is, no leading bank currently offers 9.5% interest. However, some smaller cooperative banks or NBFCs advertise higher rates—but with higher risk.
Compared to peers like SBI and PNB, BOI’s 777-day FD is slightly more rewarding. For example:
- SBI Senior Citizen FD (777 days equivalent): Around 7.50%
- PNB Senior Citizen FD (777 days): Around 7.60%
- BOI Senior Citizen FD (777 days): 7.80%
That small 0.20% difference can translate into thousands of extra rupees over time.
Example Scenario – How Much Can You Earn?
Let’s say a 62-year-old invests ₹5,00,000 in Bank of India’s 777-day FD at 7.80%.
- Interest earned ≈ ₹83,287
- Maturity value ≈ ₹5,83,287
Now imagine doing a laddering strategy—splitting your funds into 400 days, 777 days, and 5 years FDs. You’d enjoy liquidity at different stages while maximizing returns.
Things to Keep in Mind Before Investing
- Premature Withdrawal: Breaking an FD early may attract penalties, usually 0.50% to 1%.
- Tax Deduction at Source (TDS): If annual interest exceeds ₹50,000, TDS will be deducted unless you submit Form 15H.
- Inflation Factor: Even though FDs are safe, real returns may be affected if inflation rises sharply.
- Diversification: Don’t put all savings into one FD. Consider a mix of FDs, senior citizen savings schemes (SCSS), and post office MIS.
Use FunPay FD Calculator to Plan Your Investments
You can easily plan your savings with the FunPay FD Calculator. Just enter your deposit amount, tenure, and interest rate to get accurate maturity values instantly. It’s simple, fast, and reliable—helping you compare options like Bank of India senior citizen FDs before investing your hard-earned money.
FAQs on Bank of India Fixed Deposit Rates for Senior Citizens
What are the latest FD rates of BOI for senior citizens?
As of 2025, BOI senior citizen FD rates range from 4% to 7.80% depending on tenure. Special schemes like 400 days (7.75%) and 777 days (7.80%) are most attractive.
Which bank gives 9.5 interest on FD for senior citizens?
Currently, no major commercial bank in India offers 9.5% FD rates. Public and private sector banks usually cap rates around 7.5%–8%. Higher rates may be seen in small finance banks or cooperative banks, but risk is higher.
Which bank is best for FD for senior citizens in India?
For safety and decent returns, public sector banks like BOI, SBI, and PNB are reliable. For slightly higher returns, small finance banks like AU Small Finance Bank and Suryoday SFB offer 8%+, but with slightly more risk.
What is the Bank of India FD interest rate for 5 years?
Senior citizens get around 7.25% for 5-year deposits. This option is also eligible for tax-saving benefits under Section 80C.
What is the Bank of India FD rate for 777 days?
The 777-day “Star Special” FD offers 7.80% per annum for senior citizens, one of the best mid-term schemes available.
Final Thoughts
Bank of India FD Rates for Senior Citizens are competitive, especially with the 400-day and 777-day special schemes. While you won’t find exaggerated 9.5% interest rates in big banks, BOI provides a solid mix of safety, steady income, and decent returns.
If you’re planning your retirement finances, BOI’s FD options deserve serious consideration.
